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BUZZ-Australia's Seek slips as impairment hits Zhaopin investment

Reuters
Yesterday
BUZZ-Australia's Seek slips as impairment hits Zhaopin investment

** Shares of Seek SEK.AX slip as much as 1.53% to A$18.030, lowest since May 20, 2020

** Stock among top losers on the benchmark ASX200 .AXJO, which is up 1.4%

** SEEK says its assessment of asset carrying values will trigger a post‑tax A$356 million ($250.30 million) impairment on its investment in Chinese social recruitment platform Zhaopin in 1H26

** Says it is exploring a simplification of Zhaopin’s ownership structure, potentially involving cuts to some minority shareholdings

** Impairment to see its investment written down to A$182  million at the end of 2025 from A$529  million in June - SEEK

** YTD, SEK down 22.2% vs AXJO's 1.3% rise

($1 = 1.4223 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))

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